LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global satellite manufacturing and launch market projects the market to grow at a CAGR of more than 4% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Increasing demand for satellite-based telemetry systems
Earth observation data is extensively is leveraged by users from various domains such as surveyors, farmers, miners, fishers, engineers, and other decision-makers to meet their business objectives. The earth observation market can also expand the scope of the satellite telemetry in domains such as defense, science, and R&D organizations and private users. Satellite telemetry is also being used for military and defense applications. For instance, the US government uses satellite telemetry to provide satellite tracking, telemetry, and command to relevant users through several ground-based antennas. Such an increase in demand for satellite telemetry systems and the launch of new satellites will drive the growth of the satellite manufacturing and launch market during the forecast period.
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Growing demand for miniaturization
The satellite manufacturing and launch market is witnessing a significant increase in demand for miniaturized satellites. Miniaturization is the most plausible solution for cost reduction while ensuring delivery of predefined levels of performance. The platform mass and cost of the satellite are proportional to the payload's mass, power requirements, and volume. Hence, any reduction would significantly affect the cost. Moreover, besides cost, microsatellites can act as a resource that will indirectly contribute to the functions of larger satellites. Thus, the development of micro and nano-satellites is expected to radically alter the market dynamics of the global satellite manufacturing and launch market.
According to a senior analyst at Technavio, “Apart from the growing trends of miniaturization, factors such as the increasing prevalence for green propulsion technologies, and the rise in satellite-aided warfare will have a significant impact on the growth of the satellite manufacturing and launch market during the forecast period.”
Technological limitations and other vulnerabilities
Satellites are vulnerable to a number of cybersecurity threats. As most satellites run on older versions of operating systems such as Windows XP, it opens a technological gap that can be utilized by malicious entities to disrupt the services provided by the satellites. Along with the commercial satellites, the threat is likely to target military satellite communication (SATCOM) systems. Such disruptive threats can cause chaos and devastation at a global level. This is likely to affect the growth of the satellite manufacturing and launch market during the forecast period. However, developments in technology will enable satellite manufacturers to mitigate these threats.
Top players in the global satellite manufacturing and launch market:
- Airbus SE
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Raytheon Co.
- Thales Group
Some of the key topics covered in the global satellite manufacturing and launch market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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